The Red Garden, a local Thai restaurant, expects sales to be $990,000 in January. Its average customer restaurant bill is $55. Only 40% of the restaurant bills are paid with cash; 30%

are paid with credit cards and 30% with debit cards. The transaction fees charged by the credit and debit card issuers are as follows:

	Credit cards: $0.25 per transaction + 3% of the amount charged
	Debit cards: $0.55 per transaction + 1% of the amount charged

Read the requirements

LOADING...

.

Question content area bottom

Part 1

Requirement 1. How much of the total sales revenue is expected to be paid in cash?

The total sales revenue expected to be paid in cash is

.

Part 2

Requirement 2. How many customer transactions does the company expect in January?

In January, the number of transactions the company expects is

.

Part 3

Requirement 3. How much of the total sales revenue is expected to be paid with credit cards?

The total sales revenue expected to be paid with credit cards is

.

Part 4

Requirement 4. How many customer transactions will be paid for by customers using credit cards?

The number of customer transactions paid for using credit cards is

.

Part 5

Requirement 5. When budgeting for January's operating expenses, how much should the restaurant expect to incur in credit card transaction fees?

In January, the restaurant should expect to incur transaction fees of

.

Part 6

Requirement 6. How much of the total sales revenue is expected to be paid with debit cards?

The total sales revenue expected to be paid with debit cards is

.

Part 7

Requirement 7. How many customer transactions will be paid for by customers using debit cards?

The number of customer transactions paid for by customers using debit cards is

.

Part 8

Requirement 8. When budgeting for January's operating expenses, how much should the restaurant expect to incur in debit card transaction fees?

In January, the restaurant should expect to incur debit card transaction fees of

.

Part 9

Requirement 9. How much money will be deposited in the restaurant's bank account during the month of January related to credit and debit card sales? Assume the credit and debit card issuers deposit the funds on the same day the transactions occur at the restaurant (there is no processing delay).

The amount that will be deposited in the restaurant's bank account during the month of January related to credit and debit card
sales is		.

Part 10

Requirement 10. What is the total amount of money that the restaurant expects to deposit in its bank account during the month of January from cash, credit card, and debit card sales? Again assume the credit and debit card issuers deposit the funds on the same day that the transaction occurs.

The amount that will be deposited in the restaurant's bank account during the month of January from cash, credit card, and
and debit card sales is		.